Offers in Compromise

An Offer in Compromise could be just the Solution you need. Find out today.

Maybe you didn’t know that the IRS has an Offer in Compromise program that can be utilized by the tax payer when liability has been incorrectly assessed or when total liability is more than you can afford to pay.
When presented correctly to the IRS, this might mean your tax liability is entirely eliminated for as little as 5-15% of the total amount.

Our experienced tax specialists can help you determine if you might qualify for an Offer in Compromise, or if a tax payment plan would be the better route for you to go.

Fill out the form at the bottom of this page for a FREE Consultation if you need help solving your tax problems.

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How Many KPIs Should You Have For Your Skagit County Business?

 Key TakeawaysYou only need 5–9 true KPIs for effective 2026 planning. KPIs should connect directly to a specific financial or strategic goal. Too many KPIs dilute focus and slow decision-making. The right KPIs help you act earlier, not just...
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Season’s Greetings From Padgett & Padgett, PLLC CPA

Season’s greetings from the Padgett & Padgett, PLLC CPA team. For you and me both, this week can feel like a blur – trying to finish out last-minute year-end tax moves while making sure the books are wrapping up nicely. And while it’s rather fast-paced...
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What Are The Year-End Tax Moves to Make Now For Skagit County Business Owners?

 Key TakeawaysIt is not too late to create meaningful tax savings before December 31, but the remaining moves are very timing-sensitive. Low-cost, in-stock equipment and supplies are the most realistic last-minute purchases that can still be deducted this...
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Big Beautiful Bill Details Skagit County Business Owners Might Have Missed

 Key Takeaways The more favorable EBITDA-based business interest deduction limit is back for your 2025 tax year. (New restrictions are coming in 2026.) New R&E rules aren’t automatic. Retroactive benefits for 2022–2024 require elections, deadlines,...
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What Payroll Checklist Steps Do Skagit County Business Owners Need to Complete Before December 31?

 Key TakeawaysVerify all business and employee information early. Even small errors in EINs, addresses, or Social Security numbers can create big filing issues. Review 2026 compensation rules now. State and local minimum wage increases and the Social...
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Skagit County Small Business Holiday Expenses: What Can I Deduct On Taxes?

 Key TakeawaysCompany-wide holiday parties for employees are generally 100% deductible, as long as they’re not exclusive to owners or managers. Meals with clients are typically only 50% deductible, and entertainment remains 0% deductible. Employee gifts...
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Can Skagit County Investors Use Losses To Lower Capital Gains Federal Tax?

 Key TakeawaysYou can sell losing investments to realize a capital loss that offsets taxable gains. If your losses exceed gains, you can deduct up to $3,000 against ordinary income ($1,500 if married filing separately). Unused losses carry forward...
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Steve Padgett’s Perspective: What Are The Most Important Cybersecurity Measures for Small Businesses?

 Key Takeaways Create a written data protection policy. Every employee should know the rules for handling sensitive data. Back up data regularly with secure cloud services or encrypted physical backups. Encrypt everything so stolen data is useless...
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Can End-Of-The-Year Giving Mean Tax Deductions For My Skagit County Business?

  Key Takeaways Your business can give back and receive tax benefits if the donation is correctly structured and documented. Charitable contributions to qualified 501(c)(3) organizations can be deductible, but how you claim the deduction depends on your business...
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The Work Opportunity Tax Credit: Year-End Hiring Benefit for Skagit County Businesses

 Key TakeawaysYes, the WOTC applies if you hire someone before December 31, 2025.  You must submit IRS Form 8850 to your State Workforce Agency (SWA) within 28 days of the new employee’s start date. The credit can be worth up to $2,400 per eligible...
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